Truist Financial Issues Positive Forecast for SPX Technologies (NYSE:SPXC) Stock Price

SPX Technologies (NYSE:SPXC) had its price objective upped by equities researchers at Truist Financial from $261.00 to $295.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 27.11% from the stock’s current price.

A number of other research firms have also commented on SPXC. Wall Street Zen lowered SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. B. Riley Financial reaffirmed a “buy” rating on shares of SPX Technologies in a report on Friday, May 1st. Wells Fargo & Company lifted their price target on SPX Technologies from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price target on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, BMO Capital Markets started coverage on SPX Technologies in a research report on Friday, March 27th. They issued an “outperform” rating and a $243.00 price objective for the company. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.22.

SPX Technologies Price Performance

NYSE SPXC opened at $232.08 on Thursday. The company has a current ratio of 2.11, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $221.71 and a 200 day simple moving average of $216.40. The company has a market cap of $11.62 billion, a P/E ratio of 45.42, a P/E/G ratio of 1.80 and a beta of 1.26. SPX Technologies has a 1 year low of $168.61 and a 1 year high of $251.08.

SPX Technologies (NYSE:SPXC) last announced its earnings results on Thursday, April 30th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.55 by $0.14. The firm had revenue of $566.80 million for the quarter, compared to the consensus estimate of $557.62 million. SPX Technologies had a net margin of 10.76% and a return on equity of 16.98%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. SPX Technologies has set its FY 2026 guidance at 7.750-8.150 EPS. On average, sell-side analysts predict that SPX Technologies will post 7.98 EPS for the current year.

Institutional Investors Weigh In On SPX Technologies

Several hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its stake in SPX Technologies by 23.2% during the first quarter. Pacer Advisors Inc. now owns 13,268 shares of the company’s stock valued at $2,653,000 after acquiring an additional 2,498 shares during the period. Parallel Advisors LLC raised its holdings in SPX Technologies by 38.1% in the 1st quarter. Parallel Advisors LLC now owns 312 shares of the company’s stock valued at $62,000 after acquiring an additional 86 shares in the last quarter. Cim Investment Management Inc. raised its holdings in SPX Technologies by 22.4% in the 1st quarter. Cim Investment Management Inc. now owns 1,277 shares of the company’s stock valued at $255,000 after acquiring an additional 234 shares in the last quarter. Bank of America Corp DE lifted its position in shares of SPX Technologies by 13.0% in the 1st quarter. Bank of America Corp DE now owns 316,883 shares of the company’s stock worth $63,358,000 after acquiring an additional 36,340 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of SPX Technologies by 5.9% in the 1st quarter. Janus Henderson Group PLC now owns 765,245 shares of the company’s stock worth $153,011,000 after acquiring an additional 42,921 shares during the period. Institutional investors own 92.82% of the company’s stock.

About SPX Technologies

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.